The Importance of a Simple Business Plan

A simple business plan is still something that requires plenty of work to get it done accurately and properly. Calling it one of the least important parts of starting a small business would be a gross understatement because it has the most importance of all, aside from actually running the business that is. A lot of people who already own their own business will tell you that the first thing that they had to come up with was a business plan to help them get start-up finance. When you have to get a small business loan to start your business you must prove to the lender that your business has a great chance for success by showing them a solid business plan, among other things. Simple telling a potential lender that you have some terrific top business ideas just won’t cut it.

Other items in your business plan will need to cover your business feasibility study which many lenders find to be very informative towards their decision-making process. And even if you don’t need start-up finance, creating a good business plan and using it as a blueprint for running your business will help you stay on track and grow your business operations to the level that you want it to be.

Fortunately, you can make all of this much easier by taking a small business course to ensure that you are much better prepared to take on the responsibilities associated with owning your own business. The importance of having a business plan is too real to ignore and if you can’t afford to have someone draw one up for you then you must do it yourself instead. Here are some notes on what needs to be covered as a minimum even in a simple business plan

First things first, you will need an official name for your business. Make sure the name is catchy but easy to remember. Steer clear of things that are hard to spell because it can make things more difficult for your customers and so on.
You must integrate a vision that you have for your business i.e. what will your business be like in 10 years into the future? Do you have plans to expand your business if it becomes successful?

Next, a business plan will call for your business’s mission statement. The mission statement is a crucial part to the business plan and you must make sure to include everything about your business, what it does, its uniqueness, and other positive characteristics it has to offer.
You will also need to describe your business’s objectives and goals i.e. what you expect from your business and what you know it to be capable of. And then you must include a very specific set of details called SWOT. SWOT stands for strengths, weaknesses, opportunities and threats, which are to be explained in fine detail throughout your plan.
Finally, you will need an action plan and a financial plan for your business plan to be complete.

These sections should make up the bulk of your entire business plan as they are the most important. You are probably thinking about how difficult owning your own business is starting to sound not to mention how hard it could be to get a small business loan if you don’t know how to write at least a simple business plan. Save yourself the frustration of it all, especially if you have no business experience whatsoever and take a small business course where all your questions are answered.

A small business course is more than just useful towards the future of you running your own business the best way possible. You can find valuable insider information as well as other tips and tricks from people with much more business experience. Being an entrepreneur can be a daunting challenge but if you have a good handle on all the start-up steps, including things such as how to write a clear and accurate but simple business plan, you are well on the way to go about owning and successfully growing your own business.

Small Business List – This is the Place to Be

There are many small businesses everywhere. The majority of the time we go to these small businesses to get a needed product or service. They are part and parcel of our daily lives and there is no way we can avoid them. These makes them present in every element of business that you can think of. These businesses are offering so much to the general public that even as a small business owner you can benefit from them. This is because they have an exploited group of customers.

This would greatly benefit any business owner who also provides products or services if they lay strategies of how to get a piece of the action. Luckily, with the growth and expansion of technology it has become easier to access a small business list. It has become straightforward to get into contact with these small businesses. It is possible for you to get current information about the company. These details will enable you to see how you can work with the said company.

Alternatively you can source small business lists that have been provided by brokers and compilers on the web. These lists are continuously updated so you will always get accurate information. This will save you time when you need the information urgently. When you have the small business list, you can now use it to your benefit. You can do this by using it to conduct market analysis and research. This will help you identify a need in the market and find ways to offer it.

This small business list can also be used to promote material to a specific target market. You can send fliers, brochures etc to the businesses on the list who could eventually become your customers. You can choose to compile a list or rent one but it would require a lot of work since you have to constantly update it.

Small Business Success – Organisations and Professionals Who Can Help You Make it Happen

Starting and operating a successful small business requires a great deal of determination enthusiasm and motivation. The success and failure of your small business will greatly depend on your choosing the right business to start with. Having chosen the right business what next? The advice and help you are able to secure from various professionals and organisations will indeed play a vital role in the success of your business.

1. Banks

Your Bank will naturally be playing the pivotal role in financing your small business and giving you all the necessary advice and assistance to help you run your business successfully. The bank will constantly monitor your business and advise you.

2. Small Business Association (SBA):

In the United States they help small businesses start, grow, and compete in global markets by providing quality training, counseling, and access to resources.

There is a misconception that the SBA grants loans to Small Businesses

The SBA only guarantees loans made by banks and other private lenders to small business clients.

Similarly most countries have their own Small Business Associations to help and advice small businesses.

It is advisable that new entrepreneurs seek their advice and help when starting their new business.

3. Business Mentors:

Mentors are useful people with vast experience in starting and running a successful business. Very often they are people who have gone through the mill and their advice can be very helpful, especially if you have had no previous business experience at all.

4. Accountants:

Proper accounting procedures have to be adopted right from day one to ensure that your business is running profitably. For this the services of an accountant is absolutely essential. Negligence of this can end up in disaster.

5. Business Associations/Organisations:

Many new entrepreneurs are unaware of the advantages of joining an association that represents their business. For that matter being a member of any business or trade association will be enormously beneficial to your business. These associations provide their members a vast range of information such as sources for raw materials and markets for their products. Workshops and seminars conducted by them exclusively for members provide useful tips, know-how and other valuable information. Membership of certain associations also adds prestige to your small business.

6. Libraries:

Libraries are a great place where you will be able to find a vast range of books and periodicals relating to starting a business, marketing, accounting and other allied fields. Many successful entrepreneurs make good use of the libraries to gather vital information or to update their knowledge.

7. Internet:

Today the Internet is the source for information on anything and everything under the Sun. You can ignore anything but certainly not the Internet. You just have to visit the the big three search engines such as Google, Yahoo or MSN and type your query and lo and behold you get your results immediately. You may at times have to wade through unwanted and unnecessary results but nevertheless it is a goldmine you simply cannot ignore.

Conclusion:

You have started a small business with the sole objective of succeeding in you business venture. The usefulness of these organizations and the expertise of these professionals are beyond question. How soon you can establish yourself as a successful entrepreneur will depend on how best you make use of them.